Power Company to Sell Plans for Up to $2 Billion to Taqa-Led Consortium

MUMBAI--Indian power and construction company, Jaypee Group, decided Saturday to sell two of its power plants to a group of investors led by the United Arab Emirates' Abu Dhabi National Energy Co. for as much as $2 billion, according to a person briefed on the deal.

The board of Jaiprakash Power Ventures Ltd.--the arm of the Jaypee Group which owns the power plants--met Saturday and approved the sale, the person said, adding that an...